Easterly Investment Partners LLC Acquires 3,071 Shares of Chevron Corporation (NYSE:CVX)

Easterly Investment Partners LLC grew its holdings in Chevron Corporation (NYSE:CVX) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,677 shares of the oil and gas company’s stock after purchasing an additional 3,071 shares during the period. Easterly Investment Partners LLC’s holdings in Chevron were worth $7,307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Berkeley Capital Partners LLC raised its holdings in shares of Chevron by 0.4% in the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock valued at $2,572,000 after purchasing an additional 67 shares in the last quarter. CoreCap Advisors LLC raised its holdings in shares of Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock valued at $4,091,000 after purchasing an additional 71 shares in the last quarter. Clayton Financial Group LLC raised its holdings in shares of Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 75 shares in the last quarter. Requisite Capital Management LLC raised its holdings in shares of Chevron by 1.2% in the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock valued at $1,064,000 after purchasing an additional 77 shares in the last quarter. Finally, Silverlake Wealth Management LLC lifted its position in shares of Chevron by 0.7% during the first quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company’s stock valued at $1,828,000 after buying an additional 78 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $149.96 on Thursday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market cap of $261.88 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. The firm’s 50-day moving average price is $143.53 and its 200-day moving average price is $148.55.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the company earned $2.93 EPS. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.56%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVX. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and decreased their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Mizuho decreased their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. TD Cowen decreased their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Redburn Atlantic reissued a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Barclays reissued an “equal weight” rating on shares of Chevron in a research report on Tuesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $161.65.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.